Michol L. Ecklund - 01 Apr 2023 Form 4 Insider Report for Callon Petroleum Co

Role: SVP,General Counsel & Corp Sec
Signature: /s/ Michol L. Ecklund
Issuer symbol: N/A
Transactions as of: 01 Apr 2023
Net transactions value: -$179,071
Form type: 4
Filing time: 04 Apr 2023, 17:34:34 UTC
Previous filing: 06 Mar 2023
Next filing: 03 Oct 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CPE	Common Stock	Options Exercise	$0	+4,839	+26%	$0.000000	23,634	01 Apr 2023	Direct	F1, F2
transaction	CPE	Common Stock	Tax liability	$63,703	-1,905	-8.1%	$33.44	21,729	01 Apr 2023	Direct	F3, F4
transaction	CPE	Common Stock	Options Exercise	$0	+5,510	+25%	$0.000000	27,239	01 Apr 2023	Direct	F2
transaction	CPE	Common Stock	Tax liability	$72,531	-2,169	-8%	$33.44	25,070	01 Apr 2023	Direct	F3, F4
transaction	CPE	Common Stock	Options Exercise	$0	+3,254	+13%	$0.000000	28,324	01 Apr 2023	Direct	F2
transaction	CPE	Common Stock	Tax liability	$42,837	-1,281	-4.5%	$33.44	27,043	01 Apr 2023	Direct	F3, F4

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	CPE	2020 RSU - Stock	Options Exercise		-4,839	-100%		0	01 Apr 2023	Common Stock	4,839		Direct	F2, F5
transaction	CPE	2021 RSU - Stock	Options Exercise		-5,510	-50%		5,510	01 Apr 2023	Common Stock	5,510		Direct	F2, F6
transaction	CPE	2022 RSU - Stock	Options Exercise		-3,254	-33%		6,506	01 Apr 2023	Common Stock	3,254		Direct	F2, F7

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Reflects the 1-for-10 reverse split of the common stock, par value $0.01, of the Company, effective August 7, 2020 (the "Reverse Stock Split").
F2	Restricted Stock Units ("RSUs") convert into common stock on a one-for-one basis.
F3	Payment of tax liability by withholding common stock incident to vesting of RSU award issued in accordance with Rule 16b-3.
F4	Each RSU is the economic equivalent of one share of the Company's common stock at its closing price on the vesting date. If the vesting date should fall on a weekend or holiday, the preceding business day's closing price is used.
F5	On January 31, 2020, the reporting person was granted 14,519 RSUs, as adjusted by the Reverse Stock Split, subject to the three-year ratable vesting with one-third vesting each year subsequent to the award year. The first tranche vested on April 1, 2021. The second tranche vested on April 1, 2022. The third and final tranche vested on April 1, 2023.
F6	On March 12, 2021, the reporting person was granted 16,530 RSUs subject to the three-year ratable vesting with one-third vesting each year subsequent to the award year. The first tranche vested on April 1, 2022. The second tranche vested on April 1, 2023. The third and final tranche will vest on April 1, 2024.
F7	On March 9, 2022, the reporting person was granted 9,760 RSUs subject to the three-year ratable vesting with one-third vesting each year subsequent to the award year. The first tranche vested on April 1, 2023. The second tranche will vest April 1, 2024. The third and final tranche will vest on April 1, 2025.